Staff Report
Published Feb. 20, 2009

Most large counties showed an increase in January foreclosure numbers in South Carolina, but overall the state still beats the national ratio of one home for every 466 being in foreclosure.

Charleston County posted the largest number, with 515 properties in some state of foreclosure, according to figures provided by national real estate tracking firm RealtyTrac. Dorchester County had the largest rate of foreclosure in the state with one out of every 286 homes in foreclosure.

By comparison, Greenville County saw a drop in month-to-month foreclosures, going from 590 to 394.

RealtyTrac numbers show foreclosures decreased nationally by 10% with 274,399 properties in some state of foreclosure. In South Carolina, 2,463 properties were in foreclosure, up from 1,813 homes in December.

While that’s a 35% increase, South Carolina is still below the national trend for foreclosures. January numbers indicate that one home for every 821 homes in South Carolina is in foreclosure. Across the U.S., one home out of every 466 homes is in foreclosure.

Nevada is still the state with the highest rate of foreclosure. Florida saw its numbers drop 20%, but it remained the fourth highest in the country. Ohio finished up the top 10 with one out of every 452 homes in foreclosure. South Carolina checked in at 21.

Every county in the Charleston-Dorchester-Berkeley region saw an increase in foreclosures from December to January. Charleston County went from 142 homes in December to 515 in January, one of the largest increases in the state. Horry County, by comparison, went from 18 in December to 175.